Published: 2025-03-24T03:04:06.000Z
Chart USD/IDR Updates: Scope to retest 16590, February YTD high
Technical Analyst
1
Extend gains, and break above the 16535 high see room for retest of the 16590, February YTD high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 17000 | * | figure | S1 | 16470 | * | 3 Feb high | |
| R3 | 16800 | ** | Jun 1998 all-time high | S2 | 16384 | * | Jan high | |
| R2 | 16625 | ** | Mar 2020 year high | S3 | 16309 | * | 17 Mar low | |
| R1 | 16590 | ** | 28 Feb YTD high | S4 | 16259 | ** | 6 Mar low |
Asterisk denotes strength of level
03:00 GMT - Extend gains, and break above the 16535 high see room for retest of the 16590, February YTD high. Clearance here, if seen, will extend the underlying bull trend and see room for extension to 16625, 2020 year high. Beyond this, will turn focus to the 16800, June 1998 all-time high. Divergence on weekly studies suggest the latter likely to remain out of reach. Meanwhile, support is raised to the 16470, 3 February high which now underpin. Would take break here to see deeper pullback to the 16384 support. Below here will return focus to the strong support at the 16309 and 16259 higher lows.